Application of a risk management methodology in industrial projects: a case study in the metalworking sector

Abstract

All projects are subjected to varying degrees of uncertainty and risk because they are unique. Risk management of a set of specialties that make up an industrial project is one of the most difficult challenges. It is up to the project manager to develop the ability to predict events, seize opportunities or assess threats, allowing mitigation measures to be implemented in a timely manner. The main objective of this research was to verify the influence of the application of a risk management methodology in the project objectives. The methodology implemented is based on the risk management process described in the sixth edition of PMI's PMBOK Guide. A baseline model for risk identification, assessment and response planning was developed. For monitoring, a Mapping Risk was developed whose project risks are mapped according to probability and impact, allowing a better understanding of the evolution of risk throughout the life cycle of the project. The case study was carried out in a Portuguese industrial organization, which provides several services in heavy metalworking. This research aims to contribute to the dissemination of risk management, mainly in the metalworking sector, where the lack of integration of risk management with the organizational processes is a reality.